Shares of this Vijay Kedia stock under the ‘small-cap’ category jumped approximately 13 percent in Thursday’s trading session after the company provided key updates pertaining to the sales during April 2024 v/s the same month the previous year.
With a market capitalization of Rs 1,642.88 crores, the stocks of Atul Auto Limited started their trading session on Thursday at Rs 547.40 and closed the session at Rs 592, indicating a gain of approximately 13 percent compared to the previous close of Rs 525.50 apiece.
Such stock price movements were observed after a BSE filing intimating key updates pertaining to the sale of vehicles during April 2024 v/s sales during April 2023. The company grew its sales by a whopping 137 percent by selling 1,692 vehicles during April 2024 v/s 715 vehicles sold in April 2023.
As per the latest shareholding data available for the March’24 quarter, Mr. Vijay Kedia, one of the well-known ace investors based in India, holds around 58 lakh shares equating to a 20.9 percent stake under his name as well as his firm name, i.e., Kedia Securities Private Limited. Currently, the aggregate value of his investment stands at around Rs 345 crores.
During the recent financial quarters, the company’s basic business indicators, viz, its operating revenues as well as after-tax profits, showed movements in opposing directions.
The former, on one end, shifted up from Rs 153.17 crores during Q2FY24 to Rs 154.33 crores during Q3FY24, and the latter, on the other end, dipped from Rs 7.13 crores to Rs 4.47 crores.
In addition to the above, the company’s debt-to-equity ratio, one of the most popular leverage ratios, exhibited positive movements with a reduction from 0.68 times during FY21-22 to 0.49 times during FY22-23.
According to the latest shareholding pattern data for the March’24 quarter, the company’s Promoters hold a 42.73 percent stake, and the Public (retail) Investors hold a 56.39 percent stake in the company.
Atul Auto Limited is an India-based automobile company associated with the manufacturing and sale of three-wheeled commercial automobiles. Some of the products in the company’s portfolio include Atul Gem, Atul Elite, Atul Smart, etc. The company earns a majority of its revenue from domestic operations within India.
Written by Amit Madnani
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